RNS Number : 1520O
Gulf Keystone Petroleum Ltd.
15 May 2018
 

Gulf Keystone Petroleum Limited (LSE: GKP)

 

("Gulf Keystone" or the "Company")

 

2016 Value Creation Plan

 

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons in accordance with MAR 19(3).


The Company announces that on 14 May 2018 the following Nil Cost Options to acquire common shares of $1.00 each ("Shares") under the Gulf Keystone Petroleum Limited 2016 Value Creation Plan (the "VCP") have been granted to the following persons discharging managerial responsibilities ("PDMRs").  This grant is pursuant to and in accordance with the terms and conditions of the Conditional Awards made to them under the VCP on 12 December 2016:-



PDMR

Position

Number of Shares over which Nil Cost Option was granted*

Jón Ferrier

Chief Executive Officer

1,681,839

Sami Zouari

Chief Financial Officer

1,681,839


*The number of Shares over which the Nil Cost Option was granted has been calculated by reference to the 30-day average share price following the announcement of the Company's results for the financial year ending on 31 December 2017 of $2.346(£1.693) (rounded to three decimal places).


The Nil Cost Option is subject to the rules of the VCP and will normally vest depending on performance against Total Shareholder Return targets. As defined under the rules of the VCP, up to 50% of the number of Shares granted under the Nil Cost Option will normally vest following the Measurement Date for the financial year ending on 31 December 2019, 50% of the remainder of the number of Shares granted under the Nil Cost Option will normally vest following the Measurement Date for the financial year ending on 31 December 2020 with up to the remainder of the number of Shares granted under the Nil Cost Option vesting following the Measurement Date for the financial year ending on 31 December 2021.

The last date for exercise shall normally be the tenth anniversary of the Conditional Award date (12 December 2016). No dividend or dividend equivalents are payable in respect of the Nil Cost Option in accordance with the rules of the VCP.

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation:

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Jón Ferrier

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Gulf Keystone Petroleum Limited

b)

LEI

213800QTAQOSSTNTPO15

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

Identification code

Common shares of $1.00 each in Gulf Keystone Petroleum Limited


ISIN: BMG4209G2077

b)

Nature of the transaction

Grant of nil cost award under the Gulf Keystone Petroleum Limited 2016 Value Creation Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

nil

1,681,839

d)

Aggregated information

-

Aggregated volume

-

Price

 

1,681,839

Nil

e)

Date of the transaction

14 May 2018

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Sami Zouari

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Gulf Keystone Petroleum Limited

b)

LEI

213800QTAQOSSTNTPO15

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

Identification code

Common shares of $1.00 each in Gulf Keystone Petroleum Limited


ISIN: BMG4209G2077

b)

Nature of the transaction

Grant of nil cost award under the Gulf Keystone Petroleum Limited 2016 Value Creation Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

nil

1,681,839

d)

Aggregated information

-

Aggregated volume

-

Price

 

1,681,839

Nil consideration

e)

Date of the transaction

14 May 2018

f)

Place of the transaction

Outside a trading venue

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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